Topic: Hardware wallet demand increases in 2022 bear market as exchange scramble - page 4. (Read 745 times)
July 14, 2022, 06:47:34 AM
Good to see the thread has been moved to the right section, this information serves as a warning alert to most newbies and even experience Bitcoin investors and users. Nice move ops hope to see further updates as regards records of other hardware wallet companies.
July 14, 2022, 06:17:47 AM
Bear market or not, exchanges should be used for exchanging coins, and non-custodial wallets should be used for their safekeeping.
I've seen claims of up to hundreds of millions of Bitcoin users, while there are only 42.5 million funded Bitcoin addresses. If those claims are true, it can only mean the majority of Bitcoin "users" treats Bitcoin as a stock, keeping "their" coins at an exchange/broker. 
July 14, 2022, 06:01:35 AM
I also thought that Ledger will lose the user's trust after the data leak scandal, but it's obvious that most people don't value their privacy enough to blacklist such a company. And as you say, a good advertising strategy still keeps them on top and probably targets those completely new investors in the crypto world who are probably not aware of anything that happened in the past.
Comfort over anything else. Ledger offers some features Trezor does not. For example, Ledger Live on Mobile. Plus, Ledger supports many Shitcoins which I suspect the masses are holding. Maybe if Trezor supported these Shitcoins as well, they could lead the sales. But when you have everyone holding all sorts of Shitcoins and willing to choose comfort over security and basically anything else that should in theory be prioritized, Ledger of course does a great job at selling their devices.-
Regards,
PrivacyG
July 14, 2022, 05:55:06 AM
Their devices may be cheaper, but the quality is very questionable. Housing and display failures are a common occurrence, not to mention that the ledger has repeatedly fallen into incidents with users' personal data. Most of the troubles in Hardware wallets section are dedicated to the products of this company. All this together should have stopped crypto users from using ledger devices, but as we see from this news, it turns out the other way around and a hardware wallets with mediocre quality leads in sales. I see only one explanation: the influence of advertising and the good work of the marketing department with many other shortcomings of ledger.
As for the quality of the device that I bought a few years ago, I can't say anything bad, because nothing broke and everything works as it should from day one. It is possible that problems in quality and functionality arose as a result of the use of lower quality materials, and possibly a less experienced workforce.
I also thought that Ledger will lose the user's trust after the data leak scandal, but it's obvious that most people don't value their privacy enough to blacklist such a company. And as you say, a good advertising strategy still keeps them on top and probably targets those completely new investors in the crypto world who are probably not aware of anything that happened in the past.
Another fact that works in their favor is that, apart from Trezor, they have no real competition that can offer a product for the masses at a more favorable price, and at the same time gain more trust in the short term. I can only say that my next HW will not be from Ledger.
July 14, 2022, 05:03:03 AM
Bear market or not, exchanges should be used for exchanging coins, and non-custodial wallets should be used for their safekeeping. It's going to take some time for people to realize that, but hopefully we are getting there.
Despite this bitcoin migration out of custodian wallets to non-custodial wallets, there will still be many people using the custodian wallets. For example, there is a popular direction for those who want to get rich by crypto trading or ordinary users, most often beginners (those who being verified by KYC for the convenience of converting and withdrawing crypto into $ to bank cards).Bitcoin holders are moving the coins from non-custodial wallets to custodian wallets where they have their private keys, remember this is not your keys, not your wallet.
It's the other way around. People are moving their coins from custodial wallets to non-custodial wallets. Custodial means that someone else is in control of the private keys. Non-custodial means they aren't, but you are.It would be interesting to see statistics on sales of hardware wallets from other manufacturers for 2022 and compare with the results of the ledger. Does this company dominate the HW device market in terms of HW device shipments?
Ledger has sold more hardware wallets than any other HW manufacturer in the world. Despite their recent problems, I am sure that trend continued even in 2021-2022. Trezor is probably sitting on #2. Ledger puts a lot of emphasis on marketing and their devices are are cheaper than those of their competitors. If you do a google search for the term "hardware wallet", Ledger's website is the first search result. Trezor, for example, is almost at the bottom on the first page.
July 14, 2022, 04:26:57 AM
Bear market or not, exchanges should be used for exchanging coins, and non-custodial wallets should be used for their safekeeping. It's going to take some time for people to realize that, but hopefully we are getting there.
Bitcoin holders are moving the coins from non-custodial wallets to custodian wallets where they have their private keys, remember this is not your keys, not your wallet.
It's the other way around. People are moving their coins from custodial wallets to non-custodial wallets. Custodial means that someone else is in control of the private keys. Non-custodial means they aren't, but you are.It would be interesting to see statistics on sales of hardware wallets from other manufacturers for 2022 and compare with the results of the ledger. Does this company dominate the HW device market in terms of HW device shipments?
Ledger has sold more hardware wallets than any other HW manufacturer in the world. Despite their recent problems, I am sure that trend continued even in 2021-2022. Trezor is probably sitting on #2. Ledger puts a lot of emphasis on marketing and their devices are are cheaper than those of their competitors. If you do a google search for the term "hardware wallet", Ledger's website is the first search result. Trezor, for example, is almost at the bottom on the first page. July 14, 2022, 04:11:49 AM
It would be interesting to see statistics on sales of hardware wallets from other manufacturers for 2022 and compare with the results of the ledger. Does this company dominate the HW device market in terms of HW device shipments?
This news from the ledger demonstrates that even in a bear market, you can make good money. It would seem that sales of hardware wallets should be reduced due to a decline in interest in cryptocurrency due to falling prices, but it turned out differently. Demand for HW devices has increased due to the desire of people to single-handedly own their cryptocurrency and secure themselves by removing it from the exchanges. Which, in general, is not at all surprising.
This news from the ledger demonstrates that even in a bear market, you can make good money. It would seem that sales of hardware wallets should be reduced due to a decline in interest in cryptocurrency due to falling prices, but it turned out differently. Demand for HW devices has increased due to the desire of people to single-handedly own their cryptocurrency and secure themselves by removing it from the exchanges. Which, in general, is not at all surprising.
July 14, 2022, 03:14:31 AM
The more known bitcoin becomes, the more the threats against users' funds.
Also people start becoming aware that keeping their funds on custodian services can easily be a bad idea.
And we, here on bitcointalk, suggest a lot the use of HW, since most people are not technical enough to properly safeguard their funds.
So this development is, by far, not a surprise.
Also people start becoming aware that keeping their funds on custodian services can easily be a bad idea.
And we, here on bitcointalk, suggest a lot the use of HW, since most people are not technical enough to properly safeguard their funds.
So this development is, by far, not a surprise.
July 14, 2022, 02:59:51 AM
Bitcoin holders are moving the coins from non-custodial wallets to custodian wallets where they have their private keys, remember this is not your keys, not your wallet. Exchanges have lost huge liquidities due to hacks and the rest of it so a cold wallet is the best option.
July 13, 2022, 07:39:21 PM
As the 2022 bear market persists, crypto exchanges announce losses in revenue such as coinbase and binance.
A Hardware crypto wallet firm LEDGER has announced the highest shipment of its hardware wallet in 2022, amid the present bear market the CEO Pascal Gauthier went further during an interview with coin telegraph that the 2022 bear market has a heavy impact on centralized exchanges since users of those exchanges are moving funds off the exchange because of the fear losing they funds and optioning to store them on a hardware wallet where they have control of the private keys this results into the increase in the demands of the ledger hardware wallet presently.
https://cointelegraph.com/news/hardware-crypto-wallet-sales-increase-as-centralized-exchanges-scramble
A Hardware crypto wallet firm LEDGER has announced the highest shipment of its hardware wallet in 2022, amid the present bear market the CEO Pascal Gauthier went further during an interview with coin telegraph that the 2022 bear market has a heavy impact on centralized exchanges since users of those exchanges are moving funds off the exchange because of the fear losing they funds and optioning to store them on a hardware wallet where they have control of the private keys this results into the increase in the demands of the ledger hardware wallet presently.
https://cointelegraph.com/news/hardware-crypto-wallet-sales-increase-as-centralized-exchanges-scramble
I had some coins in binance Earn, with 10% interest rate for some stable coins, and withdrawal everything a few weeks ago.
I am afraid some exchanges will face financial and regulatory problems in this bear market. When the price is falling it is the perfect timing for politicians create new laws against crypto to "protect the population".
In this scenario, a lot of users will be withdrawing to their personal wallets as well, and hardware wallets are the way to go to most users. Easy to use and safe.
July 13, 2022, 03:57:41 PM
As the 2022 bear market persists, crypto exchanges announce losses in revenue such as coinbase and binance.
A Hardware crypto wallet firm LEDGER has announced the highest shipment of its hardware wallet in 2022, amid the present bear market the CEO Pascal Gauthier went further during an interview with coin telegraph that the 2022 bear market has a heavy impact on centralized exchanges since users of those exchanges are moving funds off the exchange because of the fear losing they funds and optioning to store them on a hardware wallet where they have control of the private keys this results into the increase in the demands of the ledger hardware wallet presently.
https://cointelegraph.com/news/hardware-crypto-wallet-sales-increase-as-centralized-exchanges-scramble
A Hardware crypto wallet firm LEDGER has announced the highest shipment of its hardware wallet in 2022, amid the present bear market the CEO Pascal Gauthier went further during an interview with coin telegraph that the 2022 bear market has a heavy impact on centralized exchanges since users of those exchanges are moving funds off the exchange because of the fear losing they funds and optioning to store them on a hardware wallet where they have control of the private keys this results into the increase in the demands of the ledger hardware wallet presently.
https://cointelegraph.com/news/hardware-crypto-wallet-sales-increase-as-centralized-exchanges-scramble
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